With Tom Brady no longer on the gridiron, one could say Patrick Mahomes is now the face of the NFL. At 28, the Kansas City Chiefs superstar has already won multiple Super Bowls and it looks like he’s just getting started.
It didn’t take long for the Chiefs to realize they had a generational talent in their hands, which is why they immediately showed the money to their quarterback. In 2020, Kansas City tied him down to a 10-year, $450 million contract following a historic win in Super Bowl LIV.
However, the team eventually had to revise the terms of the agreement as other quarterbacks around the league started to sign contracts for higher annual value than Mahomes.
Mahomes’ updated salary with restructured deal in 2023
In September 2023, the Chiefs agreen on a restructured contract with Mahomes to pay him $210.6 million between 2023 and 2026. The deal, however, could rise to $218.1 million. Both parties are also expected to revisit this deal after the 2026 season to agree on how to move forward for the remainder of their 10-year partnership.
The new deal means Mahomes’ annual average salary rose from $45 million to $52.65 million. But according to Spotrac, Mahomes bagged a total of $59.4 million in the 2023 regular season.
Kansas City handed Mahomes a much-deserved raise after seeing how other quarterbacks in the league were starting to make more on annual average salary.
Once the likes of Lamar Jackson, Joe Burrow, Justin Herbert, among others, signed new contracts with their respective teams, the Chiefs got an idea of how much they should pay their star signal-caller.